Economics of Developing Countries

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Economics of Developing Countries Dasgupta  Intergenerational well-being increases over time, if and only if a comprehensive measure of wealth per capita increases  The measure of wealth includes manufactured capital, knowledge, human capital and natural capital (E.G. Ecosystems)  A countries wealth per capita can decline even while GDP per capita increases and HDI improves. Neumayer  If human development is about enabling people to lead long, healthy, educated and fulfilling lives, then sustainable development is about making sure that future generations can do the same.  Human development without being sustainable cannot be true human development  SS – Strong sustainability  High human development almost invariably being achieved at the price of strong unsustainability  ‘Enabling everyone to be capable and free to do things and be the person they want to be is the goal of human development’  Providing people worth the capabilities to fulfill their needs, wants and desires stands at the heart of true economic development  Sustainable development is ‘development that meets the needs of the present without

compromising the ability of future generations to meet their own needs’  Development is about enabling people  Economic development is typically narrowly definied as high levels of per-capita income and/or consumption, but development is about much more than consumption

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